What is E-Commerce?
Electronic Commerce, most commonly known as e-commerce, is shopping products online. Depending on the e-commerce site, the user would have to create an account and log in to make a purchase. However, most small online e-commerce shops allow guest users in order to allow users to make a smooth and easy purchase.
The transaction can be done through popular online payment systems such as credit cards, PayPal or Bitcoin. As a safety precaution, a security code may be sent to you via text or email to confirm the authentication. This is a safety precaution to prevent hackers whom had stolen your personal information to make online purchases using your money.
E-Commerce in Singapore
Unlike 10 years ago, the term ‘e-commerce’ is now familiar with most people in Singapore. With the help of large e-commerce online shops such as Amazon and eBay, the popularity of e-commerce in Singapore has grown in recent years. More and more Singaporeans have quickly taken a habit to buying products online, simply at a click of a button.
Many Singaporean entrepreneurs, jumped at the opportunity of e-commerce online shopping and started opening e-commerce online shops. This variety ranged from selling clothes to virtual downloadable items such as computer games.
In fact, several smart entrepreneurs such as Roger Egan, Vikram Rupani, and Rajesh Lingappa have used their foresight and founded Redmart in March 2011. Redmart is an online e-commerce Singapore grocery shop that puts daily food products such as milk and bread on sale online.
The business seemed to be a success when Singaporeans started shopping groceries at home online instead at a supermarket. In fact, sucessful entrepreneurs such as Toivo Annus (Skype Co-founder) and Eduardo Saverin (Facebook Co-founder) started investing money in Redmart after seeing its potential to making a difference to the way people shop.
Statistics of Online Shopping in Singapore
As we all know, many Singaporeans have already taken a liking to e-commerce online shopping. Although the idea of shopping in the comfort of your own home is very attractive, just how popular is e-commerce in Singapore?
- In Singapore, the most popular online shopping category is travel.
- 50% of e-commerce sites traffic are from mobile devices.
- According to a survey in 2011 done by MasterCard , nearly 2 in 3 Singaporeans (68%) visit e-commerce online shops.
- A news report in 2011 reports that Singaporeans spent $1.1 billion in 2010 on online e-commerce shops.
- Emall.sg, a Singapore e-commerce website directory is said to have listed more than 4,000 Singapore-based e-commerce online shops.
Plan to Start Your Own E-Commerce Online Shop?
After reading this article, you may feel inspired, like the many whom have taken on the task of starting their own e-commerce online store. Many whom have started their own e-commerce online shop have failed. This is because they may have tried to build an imperfect e-commerce site themselves, had no visitors on their site, or simply selling the wrong products.
Our online marketing consultants have helped our clients to create a e-commerce site with a beautiful website design and bring them traffic. Thus, we have gained the experience needed to help our clients to build a successful e-commerce website business. To help our clients to get visitors to their site, we recommend either SEO (Search Engine Optimisation) or Facebook Marketing.
Should you not have a good marketing plan, your site would fail to receive any visitors and revenue.
For more information regarding our e-commerce website development or online marketing services, call +65 91913723.